MINISTER FOR Enterprise Batt O’Keeffe says he will call in senior banking executives to discuss their lending practices for small businesses.
Mr O’Keeffe has accused some bankers of showing “little regard for Irish taxpayers and the Government by not keeping their side of the bargain and lending to viable small and medium-sized enterprises (SMEs)”.
He said he would meet small business owners in the regions over the coming weeks to hear their first-hand accounts of difficulties accessing credit.
“Despite the taxpayer pumping billions of euro into the banks, the small business owners I have met since becoming Minister for Enterprise, Trade and Innovation tell me they are still being stone-walled when it comes to getting credit to keep going or to expand.”
It was not acceptable that lip service be paid to Government demands of banks to lend to viable businesses, he added.
“Now is the time to show gratitude to Irish taxpayers for the massive sacrifices they have made in putting Ireland on the road to economic recovery after the arrogance, greed and reckless irresponsibility of our bankers that brought the country to her knees.”
Mr O’Keeffe said that in return for recapitalisation the banks were to start lending again. If that was not happening, then he would want to know why.
He said he would be closely examining proposals from Allied Irish Banks and Bank of Ireland showing how they would meet lending targets the Government imposed on them after making €3 billion available to each of the banks for new or increased credit facilities for SMEs this year and 2011.
“If further action is required, we will act urgently and decisively,” said Mr O’Keeffe.